Coinbase Plans To Acquire Turkish Crypto Exchange BTCTurk

Coinbase plans to acquire Turkish crypto exchange BTCTurk for $3.2 billion in order to expand its global reach as we can see more today in our latest coinbase news.

The leading US-based crypto exchange Coinbase plans to acquire Turkish crypto exchange BTCTurk for $3.2 billion. Coinbase could acquire the exchange soon and sources familiar with the matter disclosed that the US company will employ its shares and cash to complete the purchase.
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According to reports, the initial price of the deal was $5 billion but due to the depreciation of the Turkish Lira and the BTC drop, the parties shook hands on the $3.2 billion agreement.

Coinbase raised hopes that it can expand its global presence and will introduce services to millions of new customers upon finalizing the acquisition. Turkey’s location in both Europe and Asia could be a beneficial factor for the goal. BTCTurk is the first exchange in Turkey and was founded In 2013 and has over 4 million users and more than $200 million in trading volume. The country’s biggest digital asset platform Paribu transacted about $20 million less.

For its part, Coinbase with its 90 million customers, is one of the leading crypto exchanges and the organization listed on NASDAQ and generated over $3.5 billion in net income in 2021. earlier this year, Coinbase revealed its intentions to acquire the Brazilian 2 TM exchange and the latter is holding that controls the biggest platform in South America, Mercado Bitcoin.

As recently reported, Crypto exchange Coinbase unveiled a list of tokens that they are considering listing in Q2 of 2022. there could be up to 50 new tokens listed on Coinbase which is the biggest exchange in the USA. According to a new blog post from the platform, Coinbase increases transparency for listing new assets and published the list as a part of the efforts to boost transparency. There are a total of 45 ERC-20 tokens on the list including projects like Binance BUSD which is the third biggest stabelcoin that has a market cap of $5 billion and BitDAO as well. Coinbase referenced five SPL tokens issued on the SOL network a month ago and the exchange added more support for the blockchain to the Coinbase wallet browser extension.

Coinbase India halts the deposits three days after launching the services and claims support for the popular payment instrument Unified Payments Interface that the company disabled the function and stopped offering users the option to purchase on Sunday.